Key Takeaways
- • Digital asset investment products posted $1.47 billion in net outflows for the week ending May 23, marking the second consecutive negative week and the third-largest weekly outflow of 2026.
- • Bitcoin investment products accounted for $1.315 billion of total outflows—the largest single-asset withdrawal of the week and a new 2026 high for weekly Bitcoin outflows—despite maintaining $120.23 billion in total assets under management.
- • The two-week outflow streak totals $2.54 billion across crypto funds, with category-wide AUM declining to $148.69 billion from higher levels earlier in the year.
- • Ethereum products recorded $222.8 million in weekly outflows, pushing year-to-date flows into negative territory at minus $89 million; May month-to-date outflows have reached $298.8 million.
- • Selective altcoin strength provided modest offset, with XRP funds leading inflows at $31.8 million week-over-week, while Solana, Near, and Sui each recorded single-digit million dollar inflows.
Summary
Crypto investment funds entered a second consecutive week of significant redemptions, with $1.47 billion in net outflows for the seven days ending May 23, according to CoinShares data. This marks the third-largest weekly withdrawal of 2026 to date, trailing only the twin $1.7 billion outflow weeks in late January. Over the past two weeks combined, the category has experienced $2.54 billion in cumulative redemptions, signaling sustained investor reallocation away from digital assets.
Bitcoin-denominated products bore the brunt of outflows, accounting for $1.315 billion of the weekly total—representing both the largest single-asset withdrawal of the week and a 2026 peak for weekly Bitcoin fund redemptions. Despite the heavy outflows, Bitcoin products maintain $120.23 billion in total assets under management, with year-to-date net inflows still positive at $2.624 billion. Short-Bitcoin products reversed course, recording $10.2 million in net inflows this week after experiencing outflows in the prior reporting period, suggesting some investors are hedging directional exposure.
Ethereum products posted $222.8 million in outflows, nearly matching the previous week's redemption level. The cumulative pressure has pushed Ethereum's year-to-date flows into negative territory at minus $89 million, with total AUM at $16.23 billion. May month-to-date outflows for Ethereum products have reached $298.8 million, indicating sustained weakness in ether-specific allocations.
Altcoin products demonstrated selective resilience on a smaller scale. XRP funds led inflows with $31.8 million week-over-week, bringing year-to-date flows to $291 million. Solana, Near, Sui, and Chainlink each recorded modest inflows ranging from $0.6 million to $9.0 million. Multi-asset products added $4.7 million in net inflows for the week. Category-wide assets under management across all crypto investment products declined to $148.69 billion, reflecting the cumulative impact of sustained redemptions.
Bitcoin-denominated products bore the brunt of outflows, accounting for $1.315 billion of the weekly total—representing both the largest single-asset withdrawal of the week and a 2026 peak for weekly Bitcoin fund redemptions. Despite the heavy outflows, Bitcoin products maintain $120.23 billion in total assets under management, with year-to-date net inflows still positive at $2.624 billion. Short-Bitcoin products reversed course, recording $10.2 million in net inflows this week after experiencing outflows in the prior reporting period, suggesting some investors are hedging directional exposure.
Ethereum products posted $222.8 million in outflows, nearly matching the previous week's redemption level. The cumulative pressure has pushed Ethereum's year-to-date flows into negative territory at minus $89 million, with total AUM at $16.23 billion. May month-to-date outflows for Ethereum products have reached $298.8 million, indicating sustained weakness in ether-specific allocations.
Altcoin products demonstrated selective resilience on a smaller scale. XRP funds led inflows with $31.8 million week-over-week, bringing year-to-date flows to $291 million. Solana, Near, Sui, and Chainlink each recorded modest inflows ranging from $0.6 million to $9.0 million. Multi-asset products added $4.7 million in net inflows for the week. Category-wide assets under management across all crypto investment products declined to $148.69 billion, reflecting the cumulative impact of sustained redemptions.
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